In 2023, the average tenure of Chief Marketing Officers (CMOs) at leading U.S. advertisers was recorded at three years and one month, a significant decrease of 11 months compared to a decade ago, according to April 2024 data from Spencer Stuart. This trend, coupled with tightening marketing budgets and new technologies like generative AI, has prompted many companies to opt for fractional CMOs as temporary, contracted marketing leaders.
Lauren Mead, a fractional CMO and founder of Mead Marketing, highlights that fractional CMOs offer a higher degree of integration within companies compared to traditional marketing agencies. Unlike interim CMOs, who temporarily fill the role while companies search for a permanent hire, fractional CMOs work with businesses that either cannot afford a full-time CMO or have not previously needed one.
“My typical clients are companies not yet large enough to require the experience of a [full-time] CMO,” said Mead.
Fractional CMOs often provide part-time assistance, dividing their time among multiple clients. “People are often surprised at how productive I can be in a short amount of time, as I avoid the time-consuming details that hinder productivity. We use our time more efficiently,” Mead added.
Fractional CMOs can be sourced through platforms like LinkedIn or specialized networks such as Grow Powered or CMOx. However, brands must first clearly understand their needs before contracting these professionals. Some fractional CMOs specialize solely in strategy, which can necessitate hiring additional personnel to implement their plans. To avoid extra costs, companies should seek fractional CMOs capable of both strategizing and executing marketing plans.
Organizations also choose fractional CMOs based on specific skills. Many companies are now hiring contract workers with expertise in generative AI, as noted by Hayden Brown, CEO of Upwork, at TechBrew’s “Onboarding Your Favorite New Coworker: AI” event in June. “There are clients who specifically seek specialists in AI work areas,” she said. Brown emphasized the importance of having such specialists at the highest company levels to “lead from the top” in AI experimentation, a role that a fractional CMO could effectively fulfill.
Companies undergoing rapid transformations, such as shifting business models or preparing for public offerings, also benefit from the expertise of fractional CMOs. “I mainly work with tech companies,” Mead stated. “These companies are proliferating, and the skills they need for a CMO today might be entirely different in a year and a half.”
